Kenyans using Public vehicles to pay 30% more on fares!
-According to Matatu Owners Association (MOA) Chairman Michael Kariuki the fare prices will rise by 30% across various routes-
By Camila Lunani
Kenyans using Public Service Vehicles (PSVs) will from Wednesday July 5, start paying more due to the high cost of fuel.
According to Matatu Owners Association (MOA) Chairman Michael Kariuki the fare prices will rise by 30% across various routes including around town and even long distances.
“We announce with regret this move due to fuel prices going up, the sharp increase in fuel cost together with an increase in cost of spare parts, loan interests among others,” he said during a press address on Tuesday.
“After careful consideration, MOA has determined that fare adjustment is necessary. The decision to affect this hike was not taken lightly however it’s essential to strike the balance.”
The prices rocketed after the Energy and Petroleum Authority (EPRA) renewed the prices of super petrol, diesel and kerosene by a whooping Ksh 13.49, Ksh 12.39 and Ksh11.96 respectively following a VAT increment on fuel from 8% to 16%.
The increment was included in the controversial Finance Act 2023, which has been assented into law by President William Ruto.
The accretion has forced the Super Petrol to begin selling at Ksh.195.53 and both Diesel and Kerosene to sell at Ksh.179.67 and Ksh.173.44 respectively.
The increase in fuel prices is anticipated to have a notable impact on the cost of living in the country with the rate of inflation envisioned to go up as a result of this.
Manufacturing, transport and distribution sectors will be greatly affected with this increment.